SBM Associates Limited 24 Wandsworth Road London SW8 2JW

Transcription

1 REGISTERED COMPANY NUMBER: (England and Wales) REGISTERED CHARITY NUMBER: STRATEGIC REPORT, REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR OXFORD KILBURN YOUTH TRUST SBM Associates Limited 24 Wandsworth Road London SW8 2JW

2 CONTENTS OF THE FINANCIAL STATEMENTS Page Chair s statement 1 Report of the Trustees 2 to 6 Independent Examiner's Report 7 Statement of Financial Activities 8 Balance Sheet 9 Notes to the Financial Statements 10 to 13 Detailed Statement of Financial Activities 14 to 15

3 STRATEGIC REPORT The OK Club works with young people and their families in Kilburn, North-West London. We work with them to build character and capabilities, as they grow into active and engaged adults. We provide opportunities for young people to explore their spirituality and their place in the world, and build positive relationships they can rely on. We are now half way through our strategic plan, which set out three key objectives: to continue to increase the quality of our work; to strengthen our organisation; and to secure the long-term future of the work of Club. We have made solid progress on all three fronts, as you will see from this report. The entire team has worked extremely hard over the year and we have seen the fruits of this. More children and young people are attending club; and the activities they attend are of higher quality. We are attracting new funding in an extremely difficult environment, and have made a small surplus on the year. To strengthen our strategic and operational capacity we have agreed to join the Worth Unlimited network. The work of Club would not be possible without the work and support of our volunteers, staff, supporters and funders, to whom we are incredibly grateful. We are very privileged to be able to work with the children, young people and families of South Kilburn, to be a part of the growth and change we see, and to be changed ourselves. M Parker - Trustee Page 1

4 REPORT OF THE TRUSTEES The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). OBJECTIVES AND ACTIVITIES Objectives and aims The objectives of the charity are the promotion and encouragement of the Christian faith by applying the capital and income of the company without distinction for or towards all or any of the following purposes: Maintaining activities for children and young people in Kilburn Establishing and maintaining activities for children and young people there or in other places Providing office and residential accommodation for the wardens, club leaders and other workers for the said activities whether full time or part time workers; and Training and instructing persons in the leadership of such activities as aforesaid The charity achieves the above objectives through the operation of the OK Club. PUBLIC BENEFIT The trustees have referred to the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning its future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives of the Charity. Page 2

5 ACHIEVEMENT AND PERFORMANCE Charitable activities Quality Youth Work OXFORD KILBURN YOUTH TRUST REPORT OF THE TRUSTEES Our first strategic objective is to continue to invest in the quality of our work. We have sought to embed good practices in our work, and to develop ways to understand and reflect on the impact we have. This has been reflected in on-going growth in the numbers and attendance rates of the children and young people. During the year we worked with 285 different children and young people. We ran 307 sessions which lasted for a total of 639 hours. We had 3580 ticks on the register during that time. Just over half of these attendances were at our children's sessions. This is a 40% increase in attendance levels over the previous year. We have continued to run the evening youth sessions, on Tuesday, Wednesday and Thursday evenings. We have experimented during the year with different structures. There is no longer a girls session, but offer a more focussed activity session on Wednesdays, where there will be a craft, or cooking, or some other project that will be the main focus of the session. To enable this to happen, we had approximately 2000 hours of face-to-face volunteering youth and children's work, by 18 different volunteers. This doesn't include all the planning and preparation time they put in, nor time spent by Trustees. London Federation Quality Mark We have continued to work towards achieving the bronze Quality Mark award. This has been led by Matt Perry, our Operations Manager. We are continuing to gather the evidence for the accreditation, which we now hope to achieve by the summer 2017, and also to build in processes to ensure the improvements we have seen are long-lasting. Equipping the Team As part of our ongoing commitment to staff development and training we have continued to train and support our staff and volunteers to help them improve their youth and children's work practice. Frontier Youth Trust provide regular training sessions, and volunteers receive support from the external placement partners. We have also offered workbased support to our full-time staff. Volunteer Partnerships This year we welcomed a new group of full- and part-time volunteers to the team. Stephania joined us from Colombia via Time For God. Nelson also comes from Colombia, via a new partnership with ICYE (Inter-Cultural Youth Exchange). Lea arrived from Berlin on the long-standing scheme with St Luke's and the Diocese of Berlin. Last year we initiated a Parish Interns project with the Diocese of London. This provides young people considering ordination with an opportunity to work in a parish in London. Interns join the community at Christian Holt House, and part of their placement includes helping at two sessions/week at Club. As well as training provided by Club, volunteers receive support from the Diocese during the year. Theory of Change and Impact This year we have introduced a new way of understanding our work and its impact. At our annual planning weekend, Trustees, staff and volunteers worked together to think through what we do, and the difference it makes. Facilitated by Debbie Garden, from Frontier Youth Trust, we looked at the Huskins model of Youth Achievement. We have adapted this slightly to our own circumstances, and after every session the team identify the step, and any evidence, that each young person is on. This then feeds into our reflection and planning processes. Brent funding - Sports & Health project Our application to the Brent Council VSIF (Voluntary Sector Initiatives Fund) was successful (only 1 of 11 to be funded in the Borough - an indication of the current funding situation). We will receive 45,000 over 2 years to run a Health and Sports project. This funding has allowed us to recruit a new full-time youth worker, and Lowell Weir will be joining the team in April The project aims to improve the health and well-being of the children and young people we work with, using both traditional team sports but also through non-competitive physical activities. It will also enable us to work with Disability Sports, a charity that provides sports training for children and young people with disabilities. Page 3

6 ACHIEVEMENT AND PERFORMANCE Charitable activities OXFORD KILBURN YOUTH TRUST REPORT OF THE TRUSTEES As the only full-time qualified member of staff, Stuart has done amazing work, but has been spread thin. Securing this funding will allow us to put more resources into our youth work in order to increase the quantity and range of youth work that we do. Building our capacity Our second objective has been to build our organisational capacity in various ways. Strategic Partnership to strengthen the organisation Over the last couple of years we have approached a number of organisations to explore closer partnership working, in order to increase our organisational capacity and resilience. We sought larger youth organisations with compatible values, in order to look at different partnership models, up to and including mergers. After a deliberately slow and considered process, we have now decided to join the Worth Unlimited network of organisations. This will enable us to retain our identity, independence and rootedness, while benefitting from the strategic and youth work support they can offer. FINANCIAL REVIEW Financial position We are very pleased that we have been able to show a small surplus on the accounts in the financial year, for the first time for a few years. The Trustees conducted a funding review of the organisation during the year. We have successfully increased our income from renting parts of our premises over the last year, to other community organisations with compatible aims and services. Despite securing the funding from Brent Council, continued and deepening austerity policies across the public sector means we do not feel it likely that public funding for youth work will be available. We also recognise that we have limited resources to devote to fundraising. The priorities for the coming year are: Further increase income from premises hire Strengthen relationships with existing funders Improve our communications with, and growth of our individual supporter base Reserves policy It is the policy of the charity where feasible to maintain unrestricted funds which are the free reserves of the charity, at a level which equates to approximately three months' staffing costs. This provides sufficient funds to cover management and administration and support costs. Page 4

7 REPORT OF THE TRUSTEES FUTURE PLANS The existing fabric of the buildings that Club operates in (both the Club building/hall and the volunteer accommodation block) is tired and towards the end of its economic life. The Trustees remain of the view that developing our site provides the best use of our assets to secure the work of Club in the long term. To this end we have been in discussion with various partners to take this forward. Our objectives in redeveloping the site are: 1. Provide high quality youth and children's work space (around 310 sq m) 2. Provide volunteer accommodation (for 12 people) 3. Provide a long-term, secure income stream sufficient to support the core activities of Club. During the year we worked with Dolphin Living, who carried out a feasibility study of the site. This confirmed that our objectives are ambitious but achievable. Any scheme will need the close co-operation of Brent Council; while we own the freehold to the main Club buildings, the other two-thirds of the site are on a leasehold, with Brent as the freeholder. We are in discussions with Brent Council now to explore how we might take this forward with them. As this opportunity unfolds, we are also contacting other youth organisations to see if we can provide space for them alongside our own in any new scheme. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is governed by the memorandum and articles of association. Recruitment and appointment of new trustees Directors are appointed and removed by the existing board of directors. Induction and training of new trustees The Chair is responsible for the induction of new trustees. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number (England and Wales) Registered Charity number Registered office Christian Holt House 45 Denmark Road Kilburn London NW6 5BP Trustees D McLaren A Brown M Lethby A Lyall M Parker Mrs S M Turner Company Secretary Page 5

8 REFERENCE AND ADMINISTRATIVE DETAILS Independent examiner SBM Associates Limited 24 Wandsworth Road London SW8 2JW OXFORD KILBURN YOUTH TRUST REPORT OF THE TRUSTEES This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 15 November 2017 and signed on its behalf by: M Parker - Trustee Page 6

9 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OXFORD KILBURN YOUTH TRUST I report on the accounts for the year ended 31 March 2017 set out on pages eight to thirteen. Respective responsibilities of trustees and examiner The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under Section 145 of the 2011 Act - to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and - to state whether particular matters have come to my attention. Basis of the independent examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below. Independent examiner's statement In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Pauline McAlpine FCA SBM Associates Limited 24 Wandsworth Road London SW8 2JW 1 December 2017 Page 7

10 STATEMENT OF FINANCIAL ACTIVITIES Not es Unrestricted fund Restricted funds Total funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 3,830-3,830 23,449 Charitable activities Operation of Club 58,790 33,350 92,140 48,868 Investment income Total 62,671 33,350 96,021 72,419 EXPENDITURE ON Raising funds Charitable activities Operation of Club 42,857 50,895 93,752 99,675 Total 43,401 50,895 94, ,191 NET INCOME/(EXPENDITURE) 19,270 (17,545) 1,725 (27,772) RECONCILIATION OF FUNDS Total funds brought forward 24, , , ,408 TOTAL FUNDS CARRIED FORWARD 43, , , ,636 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 8

11 BALANCE SHEET AT 31 MARCH 2017 Not es Unrestricted fund Restricted funds Total funds Total funds FIXED ASSETS Tangible assets 7-691, , ,709 CURRENT ASSETS Cash at bank 53,001 3,438 56,439 37,858 CREDITORS Amounts falling due within one year 8 (9,241) (1) (9,242) (9,931) NET CURRENT ASSETS 43,760 3,437 47,197 27,927 TOTAL ASSETS LESS CURRENT LIABILITIES 43, , , ,636 NET ASSETS 43, , , ,636 FUNDS 9 Unrestricted funds 43,760 24,490 Restricted funds 694, ,146 TOTAL FUNDS 738, ,636 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies. The financial statements were approved by the Board of Trustees on 15 November 2017 and were signed on its behalf by: M Parker- Trustee The notes form part of these financial statements Page 9

12 1. ACCOUNTING POLICIES OXFORD KILBURN YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property Long leasehold Equipment - 2% on cost - 2% on cost - 20% on cost Taxation As a registered charity the Club benefits from rates relief and is generally exempt from Income Tax and Capital Gains Tax, but not from VAT. Irrecoverable VAT is included in the Statement of Financial Activities within the cost of those items to which it relates. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Acorn Fund This fund represents funds raised for the redevelopment of the Club during The Club receives various grants and donations for specific projects which are detailed in the notes to the financial statements. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 2. INVESTMENT INCOME Deposit account interest Page 10

13 3. NET INCOME/(EXPENDITURE) OXFORD KILBURN YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS - CONTINUED Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets 17,545 17, TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 31 March 2017 nor for the year ended 31 March Trustees' expenses There were no trustees' expenses paid for the year ended 31 March 2017 nor for the year ended 31 March STAFF COSTS The average monthly number of employees during the year was as follows: No employees received emoluments in excess of 60, COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted Total funds fund funds INCOME AND ENDOWMENTS FROM Donations and legacies 23,449-23,449 Charitable activities Operation of Club 21,052 27,816 48,868 Investment income Total 44,603 27,816 72,419 EXPENDITURE ON Raising funds Charitable activities Operation of Club 53,597 46,078 99,675 Total 54,113 46, ,191 NET INCOME/(EXPENDITURE) (9,510) (18,262) (27,772) RECONCILIATION OF FUNDS Total funds brought forward 34, , ,408 TOTAL FUNDS CARRIED FORWARD 24, , ,636 Page 11

14 NOTES TO THE FINANCIAL STATEMENTS - CONTINUED 7. TANGIBLE FIXED ASSETS Freehold property Long leasehold Equipment Totals COST At 1 April 2016 and 31 March , ,186 19, ,804 DEPRECIATION At 1 April ,474 57,058 19, ,095 Charge for year 11,681 5,864-17,545 At 31 March ,155 62,922 19, ,640 NET BOOK VALUE At 31 March , , ,164 At 31 March , , , CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors 4,892 1,357 Accrued expenses 4,350 8,574 9,242 9, MOVEMENT IN FUNDS At Net movement in funds At Unrestricted funds General fund 24,490 19,270 43,760 Restricted funds Acorn Fund 708,708 (17,545) 691,163 Sportivate 1,166-1,166 Besom 2,030-2,030 The Challenge ,146 (17,545) 694,601 TOTAL FUNDS 736,636 1, ,361 Page 12

15 9. MOVEMENT IN FUNDS - continued OXFORD KILBURN YOUTH TRUST NOTES TO THE FINANCIAL STATEMENTS - CONTINUED Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 62,671 (43,401) 19,270 Restricted funds John Lyons 22,100 (22,100) - VSIF 11,250 (11,250) - Acorn Fund - (17,545) (17,545) 33,350 (50,895) (17,545) TOTAL FUNDS 96,021 (94,296) 1, RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March Page 13

16 DETAILED STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS Donations and legacies Donations 3,830 23,449 Investment income Deposit account interest Charitable activities Operation of Club 32,087 20,970 Grants and funding 60,053 27,898 92,140 48,868 Total incoming resources 96,021 72,419 EXPENDITURE Raising donations and legacies Sundries - 67 Other trading activities Prayer letters Charitable activities Wages 43,952 51,767 Social security Pensions CHHA costs 2, Insurance 2,614 1,757 Premises expenses 11,072 19,324 Telephone Postage and stationery Computer expenses General Club project costs 7, Training Staff travel and other costs 4,297 2,373 Subscriptions Depreciation of tangible fixed assets 17,545 17,545 92,232 98,143 Support costs Finance Bank charges Governance costs Accountancy and legal fees 1,500 1,500 Total resources expended 94, ,191 This page does not form part of the statutory financial statements Page 14

17 DETAILED STATEMENT OF FINANCIAL ACTIVITIES Net income/(expenditure) 1,725 (27,772) This page does not form part of the statutory financial statements Page 15